Germany Gives Geithner Stiff Finger

Mike Shedlock

It's good to see someone thinking clearly, and that someone is certainly not Treasury Secretary Tim Geithner who wants to dump more Euro risk on the backs of European taxpayers, especially German taxpayers.

Bloomberg reports Germany Rejects Using ECB Leverage to Increase European Rescue Fund’s Size http://www.bloomberg.com/news/2011-09-1 ... power.html

Germany’s top two finance officials rejected using the European Central Bank to boost the euro-area rescue fund’s firepower, rebuffing a suggestion by U.S. Treasury Secretary Timothy Geithner.

“The EFSF’s sole purpose is the financing of states and that’s in order as long as it’s done via the capital market,â€